Republicans plan tax retreat ahead of big overhaul reveal

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Tax reform plan details to be unveiled next week

House Ways & Means Committee member Erik Paulsen (R-MN) says details of the GOP tax reform plan could be rolled out next week.

House Republicans have planned a retreat away from the Capitol next week to discuss a tax overhaul that congressional leaders have been working on for months.

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The retreat is set for Wednesday, but Republicans aren't disclosing details. GOP leaders have promised to publicly release outlines of their tax plan in the coming week.

Republicans are determined to deliver the first tax overhaul in more than three decades. The goal is to cut tax rates for individuals and corporations, and eliminate some tax breaks to pay for the cuts.

However, so far, Republicans have been mum on specific details. There are still disagreements over some key issues, including specific rates for individuals, how low to drop the corporate tax rate and whether the bill should be revenue neutral.

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President Donald Trump has publicly called for a 20 percentage point cut to the current 35% rate, however other lawmakers have expressed doubt over whether that level can be reached.

House Republicans say the retreat will give them a chance to discuss the plan and ask questions. The administration and GOP leadership maintain tax cuts will be delivered by year’s end.

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The Associated Press contributed to this report.

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